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New Jersey Statutes, Title: 43, PENSIONS AND RETIREMENT AND UNEMPLOYMENT COMPENSATION

    Chapter 15a: Extension to governmental units having no retirement system

      Section: 43:15a-144: Separate accounts, contributions.

          
3. a. Notwithstanding the provisions of section 25 of P.L.1954, c.84 (C.43:15A-25) to the contrary, a separate account shall be established in the annuity savings fund for each workers compensation judge and all contributions based on the judge's salary shall be credited to this account. This account shall be separate from any other account that the member may have as a result of other public service covered by the retirement system.

b. A workers compensation judge shall contribute at a rate equal to 5\% of the judge's salary, which contribution shall be deducted from the salary at the time or times it is paid, and which shall be exclusive of any other contribution required of the member for Social Security, contributory death benefits or deductions for any other purpose. The contribution rate shall be 5.5\% of the judge's salary effective with the payroll period for which the beginning date is closest to July 1, 2007. The contribution rate shall be 6.5\% of the judge's salary on and after the effective date of P.L.2011, c.78, with an additional contribution of 1\% to be phased in in equal increments over a period of seven years commencing with the first year following that effective date.

c. A workers compensation judge who is enrolled on the basis of other public service before, during, or after service as a judge of compensation shall contribute for such other service at the rate of contribution required of other members as provided by section 25.

L.2001, c.259, s.3; amended 2007, c.103, s.5; 2011, c.78, s.13.



This section added to the Rutgers Database: 2012-09-26 13:37:53.






Older versions of 43:15a-144 (if available):



Court decisions that cite this statute: CLICK HERE.